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Search Results 0 to 49 of about 54 (some duplicates have been removed)
CSPAN
Dec 31, 2012 7:00am EST
to reduce the deficit. one trillion dollars in spending cuts over the next 10 years but these changes would result in more savings in the next 10 years and would solve our deficit problems for a decade. they say their biggest priority is dealing with the deficit. they are behaving and protecting the tax breaks for the wealthiest americans. that seems to be their overriding theme. host: a new development yesterday, the vice president joe biden was called in by mitch mcconnell, who said he needed a dance partner in all of this. guest: if you remember on friday, the president said he was going to turn over the lead to senator reid and senator mcconnell to work out a deal that could pass the senate and that he would sign on to whatever deal that was. senator reid and senator mcconnell were not able to reach that deal. the negotiations between them have turned increasingly bitter and senator mcconnell basically said that he could not work with senator read anymore and reached out to joe biden and ask him to resume the role that he has had in previous negotiations. the arbiter, the deal maker. jo
CSPAN
Dec 30, 2012 2:00pm EST
to the deficit, i just want to make sure that that money goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax increases might affect you? had you planned for that at all? caller: i am comfortable enough, i am planned -- and i plan to give more. i would hope that most people in my financial situation would be prepared to do that. >> the democratic line is next, california. donna, hello. caller: i would like to state -- i think that one of our biggest problems is that the republican party has sold us out to grovers inquest. i think that everyone who took that pledge should be fired from the congress. they took an oath of office first. they have given away the o
CSPAN
Dec 30, 2012 10:30am EST
the deficit $23 billion. the last farm bill we passed that was completely paid for at my insistence as budget committee chairman. everybody else was functioning we faced up to reality. secto in this farm bill, even far more in the way of deficit reduction. it demonstrates this is possible to do. but you have got to have leadership. and you've got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes. i want to talk a little more personal. you have decided to leave your papers of public service to george washington university. why is that? >> i got my master's in business there. they have tremendous resources there to take advantage of this collection, which is loaded with history. >> what kind of things will researchers and historians find? >> the will find that tim conrad has had a single-minded focus on fiscal responsibility for 26 years. [laughter] my staff says that a remarkable thing in looking at this collection is how consistent i have been but pay attention to fiscal responsibility and making sure that certain things add up. they say
CSPAN
Dec 26, 2012 8:00pm EST
just passed reduces the deficit $23 billion. the last farm bill that we passed that was completely paid for at my insistence as budget committee chairman. if everyone else were functioning the way the agricultural sector has would not have the budget problem. we faced up to reality. we had more pay fors than expenses. in this bill even far more in the way of deficit reduction. it demonstrates this is possible to do. but you got to have leadership and you got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes and i want to talk more personal. you have decided to leave your papers of your quarter century plus to george washington university. why is that? >> i went to george washington university. they have tremendous resources there to take advantage of this collection which is loaded with history. >> what kind of things will researchers and historians find? >> i will find a single-minded focus on fiscal responsibility for 26 years. my staff says the remarkable thing i am looking at this collection is how consistent i have been about.
LINKTV
Dec 29, 2012 2:00pm PST
is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not like it, some people will like it less, but that is where we are. >> the democratic leader said it will prevent a tax hike on middle-class families are not up to a quarter million dollars. that condition, in line with obama's campaign pledge to raise taxes on the wealthiest 2% of taxpayers ought. it is a condition that so far is unacceptable to republicans want to extend current tax breaks regardless of income. the pressure will be elements of the house republicans to follow through. at this point, it is an open question. >>> at least six people in pakistan have been killed, dozens injured in an explosion in karachi. it ripped apart a bus parked on the road and a hotel was also damaged. they're still no word on what caused the explosion. the police s
CNBC
Dec 28, 2012 9:00am EST
, we still have this bigger challenge out there of how are we going to fix the deficit and debt problem in this country? we know we have to make hard choices. we know the parties have to work together, and they've got to get to work on this as quickly as possible. >> maya, with the greatest of respect, it seems to me your logic is all over the place. it's very clear the nub of the discussion, the squealing that we have at the moment is whether or not to extend tax cuts. that is, in effect, saying we are going to balloon the deficit further. this is not a conversation about actually fixing the debt, is it? that's not what we're talking about at the moment. we're squealing over, let's keep the deficit big. you seem to be arguing that that's exactly what we should be doing. >> let me explain, because it is more complicated than often things are discussed in washington. the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, i
CSPAN
Dec 27, 2012 10:00am EST
reduces the deficit $23 billion. the last farm bill that we passed was completely paid for at my insistence, as budget committee chairman. if everybody else were functioning the way the agriculture section has, we would not have a problem. we in the agriculture committee face up to reality. we had more pay-for spend expenses. -- baena expenses. i think it demonstrates this is possible to do. by you've got to have leadership. and you've got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes. you have decided to leave your papers to george washington university. why is that? >> i went to george washington university and got my master's in business there. they are tremendous resources there to take advantage of this collection, which is really loaded with history. >> what kind of things will researchers and historians find in your papers? >> they will find that kent conrad has had a single-minded focus on fiscal responsibility for 26 years. my staff says a remarkable thing in looking at this collection is how consistent i've bee
CSPAN
Dec 30, 2012 7:00am EST
across the country. we talk about reducing deficits and having a responsible budget for 20 years. this is actually, it will you go over the cliff and nothing changes, the largest single day of the deficit reduction in world history. it is $600 billion in deficit reduction trust by the turn in the calendar. over the long term, you look at what that does, we are in much better shape over the long term by going off the cliff. the problem is that right now, we are still very slowly recovering from the worst financial crisis it had since the great depression. it probably is not the time to be having such large deficit reduction. that is why we and others have been focused on getting some kind of a larger deal that can ensure we do not have this extensive short-term deficit reduction. if we start to deal with these problems now, we can do so adequately and without too much short-term economic pain and helping the economy. from let's go to patricia oak creek, wisconsin on the democratic line. caller: good morning, and happy new year to the both of you. i feel so sad for our poor country
CNBC
Dec 27, 2012 3:00pm EST
yes. the helicopter has to get off the platform since the election, solving or debt and deficit problem knows that you can't cole of our debt problem before it is not faeblible. >> the president arrived at 3310:00 am and made calls to the house and senate leadership as the negotiations continued. do you sense, sir, there is a period of compromise, where nobody was talking and everybody was holding the ground firmly? do you have a greater sense of comp moise as we into -- the speaker said the president didn't next any dale or the compromise so i ge he'll take that up in the shat, hopefully vote for it. >> part part of the problem last week was the conservative wing of the party that i put you in for plan "b," and it was seening a something of a mutiny against john boehner at that point. so i'ming what is do you feel the support think of wing of the part is rhettest to president the measure? >> the this the has to stop a theso threat at the first motion of a pours bill and there were members in the house unwilling to vote on a bill that the president said he's going to veto. the h
CNBC
Dec 28, 2012 7:00pm EST
for the country is economic growth and reducing unemployment versus 19% for reducing the federal budget deficit. tax reform and to end the washington gridlock is also on the wish list, michelle. >> mine, too. >> thanks, hampton. >>> once again, the big story tonight, no fiscal cliff deal and not even a new offer from the white house. three days to go. president obama asked the senate leaders to try to make a deal. we'll get more on all of it from washington next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> welcome back to "the kudlow report." i'm michelle caruso-cabrera in for larry ku
CSPAN
Dec 28, 2012 12:00pm EST
but the debate over the deficit and the debt that is behind this? >> well, if you go back to 2001 and thereafter, the cost of the war was not included in the budget except the military and the defense budget. but the additional costs were not reflected in the budget. there were always supplementals. so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into t
CBS
Dec 28, 2012 5:30pm PST
, will not be the so- called grand bargain with trillions of dollars of deficit lionction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts ulr the defense department and peher government programs. it looks like those cuts will go forward. what the president said today is 24 hours from now the senate leaders have to have a plan that deals with income taxes at a rate to be determined later, the threshold of that income-- and some federal benefit. and if they don't reach a deal, he will have his own plan "b." >> if we don't see an agreement hetween the two leaders in the senate, i expect a bill to go on the floor, and i've asked senator reid to do this, put a eill on the floor that makes tare that taxes on middle class families don't go up, that unemployment insurance is still ploylable for two million people, and that lays the dioundwork then for additional deficit reduction and economic growth steps that we can take in ane new year. but let's not miss this deadline. neat's bare minimum that we should be able to get done. >> reporter:
CSPAN
Dec 28, 2012 2:00pm EST
taxation by using a flat tax. that way you can calculate the amount of taxes we need for the deficit over 10 years. another point is to control the spending on entitlements by not giving millionaires social security benefits, thereby satisfying president obama's approach. instead of doing it through taxation, he can do it through the entitlements. guest: those are both ideas that have been raised, especially the social security and medicare benefits for the wealthy and potentially might not need them to live off of. one tricky part of that is wealthier americans have been paying these taxes for decades into social security and medicare if and a lot of folks have a problem with the idea of taking away their benefits they have paid for if just because they happen to be more well off. and issued the first caller raised and something to watch is this could really sort of set the tone for the president's second term. if this thing gets ugly and stays ugly, it's probably going to stay that way at least another year or two, and the next thing you know, he's a lame duck president. if we cut a dea
CSPAN
Dec 26, 2012 1:00pm EST
trillion in deficit reduction. we need to stabilize the debt and work it down is a package of about $4 trillion over ten years. here we are today, december 19, and these law changes which i referenced earlier, the end of the bush era tax cuts, the dreaded sequester, across the board cuts of $1.2 trillion in spending will begin to take effect the first of next year. the good news is the white house and republicans have been trading proposals and at least yesterday appeared to be moving closer together. i would have much preferred that they would be talking about a bigger package than they've discussed but nonetheless to reach a package that would resolve some of these issues would be an important step forward and i think help promote certainty that would be important to our economy. on the revenue side of the equation, i just want to remind you what it's taken in the past to balance the budget. we hear talk on average revenue is in the 18% of g.d.p. range n. getting back to average you will should be sufficient. the problem with that is we have never balanced the budget in the last 50 y
CSPAN
Dec 31, 2012 10:45am EST
were paying down the deficit. we had three straight years or four of surpluses. c.b.o. said if we continued on that way, we would pay off the national debt by 2010. well, then george bush came into office, they looked at all the surpluses out there and said guess what? we've got to take some of that and give it back in tax cuts, and that's what they did. now that's what's ending tonight. that's what ends tonight, are those bush tax cuts. so we go back to the tax system that we had under bill clinton. i ask, what's so bad about that? it worked pretty darned well. the economy was going well. we were paying down the deficit. things were going well under bill clinton, under that tax system, and that's what we'll go back to tomorrow. what's so bad about that? well, what's happened is in the last ten years a lot of people have gotten very rich in this country. very rich. and now they want to protect their wealth. and that's what they want to do. they want to lock in this system on estate taxes and lower tax rates up to $450,000 or $500,000 or a million or whatever they want. they want t
MSNBC
Dec 26, 2012 2:00pm PST
congress is on pluto and we're all on earth. they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax increases. they don't want to
FOX News
Dec 28, 2012 10:00am PST
-class families that are already facing a real financial panic. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both
CSPAN
Dec 28, 2012 1:00am EST
into the situation we are in right now, with the huge debate over the size of the deficit and the debt? >> go back to 2001 and thereafter. the cost of the wars was not included in the budget. they were always supplemental. they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held
FOX News
Dec 27, 2012 3:00am PST
program run a billion deficit in 2012 . as the program brought in over 725 billion in cash and spent more than it earned it is costing 773 billion. >> julia: and you are surprised. benefits reached over 8 million and 820,000 in increase in november . so something shady is going on here. >> you used the word shady . i think that is a pretty good word to use. definition of who is disabled is expanded over the yearrs and recently, as you have a massive rise in unemployment and work force clinking and clearly some people are taking the disability option as opposed to staying in the work force. you can call it shady or financially unfortunate but it is happening. we never had as many people on disability ever before. >> clayton: republicans have a look at entitlement programs and we are trying to reign in the excessive spending. >> there are no serious cuts from president obama. there is serious effort at reforming. medicare and medicare. a lot of people don't say social security is enment. it is an insurance program. but it is enormous amount of money flowing out than in and it is getting wor
CSPAN
Dec 29, 2012 3:32pm EST
, because when g.o.p. is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in office right now anyway. so i think
MSNBC
Dec 28, 2012 3:00am PST
's the longer term federal deficit and then the shorter term impact on the economy. we'll have that first, right? the markets will go down and economic confidence will continue to slide. money will be taken out of the economy. so there's an economic impact right now. why should they deal with this crisis when the bigger crisis they couldn't come together tlen. sorry starbucks. they didn't come together before either. what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling
CNBC
Dec 26, 2012 1:00pm EST
would say copper. i think it has a tremendous potential. we have a production deficit. i think future demand underestimated at this point. particularly in the second half of the year, could be a big winner. >> that would suggest a global growth play. >> it would improve growth, not necessarily explosive growth, but it would express china, for example, the rest of asia. >> favorite commodity in the agricultures? >> i would say corn. there's a battle for the acreage going on between corn, soy beans, cotton. they are all grown in the same area. the demand for corn from both an ethanol standpoint and also from a food calorie standpoint is going to be huge. potential sleeper, copper, because it's the least favored on a price basis so they're not going to be planning much. we could -- >> copper? >> cotton. >> i thought you said copper. >> i might have. >> planting copper, you've got me there, baby. >> they could be a substantial decline in cotton acreage. >> simon? >> can we just take you back to copper. we had a mention of this earlier in the show. the fact that you have these two physical
CNBC
Dec 26, 2012 7:00pm EST
to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people wh
CNBC
Dec 27, 2012 12:00pm EST
gains. the home market is seeing a strong recovery. >> you have two deficit confederacy conversations where it has turned around and the second, if you believe it has, the stocks over the past year. for the first question, are we on the up and up? we had robert shiller of case-shiller a week ago, who said he wasn't sold we bottomed. is he wrong? >> yes. i believe he's wrong. there's little doubt at this point home prices bottomed in late 2011 andtron recovery in 2012 and expect more gains in 2013 as more homes come on the marketplace being pulled out of negative equity but we expect home valuation in 2013. we don't foresee further price decline is in the market right now. >> how much demand is being pulled back or healld back by sh a low rate private sector borrower cost environment. we have investors sitting on the sideline believing rates and mortgages wilton rise lower and lower and not until they actually rise will they step out and make that purchase. >> you're right, definitely once mortgage rates begin to move up, you will see that impulse of people getting into the marketplace
CNBC
Dec 28, 2012 1:00pm EST
't love raising taxes. the facts is, if you're serious about this debt, if you're serious about deficit reduction, we have to be able to both get some new revenue. asking millionaires to pay a little bit more in marginal rates. we have to get serious about how we're going to do spending cuts in the right way. republicans have said department of defense shouldn't be on the table. we shouldn't demand more of the 50 seat accountability from across government. we are putting spending cuts on the table and investing for economic growth on the table. we need to stop having a discussion about who the bad guy is and start getting serious about getting this done. >> good luck on sunday night. we're all looking forward to seeing what you guys get done on sunday night when you're back in session. it's good to have you on. we have a market flash. >>> michelle, want to take a check on the share of facebook today. reversing some of the losses on reports that ichb stay gram had lost 25% of its users since it changed its service. the data came from a firm called app data. doing a bit of a deeper dive s
CNBC
Dec 28, 2012 4:00pm EST
during graham/rudman and i remember when they couldn't get deficit conversations right, treasuries went down and stocks went down. oh, would i love to get back to that type of reality. >> yeah. but you had a different guy at the federal reserve at the time. >> yeah, a different guy, you know, in hindsight he was maybe the monetizer in charge -- in chief, and we get a little historical perspective on that, but as many things that i disagree with alan greenspan on, i thought he was at least more forthright into what he was doing, and even going after the government per se a bit when there were tax issues, all av d avoided by the current chairman ben bernanke, and even though he avoids the conversation, he doesn't avoid giving congress the biggest fire hose in the world filled with free water. >> i love those kind of fire hoses on every corner, please. >> what's that, david? >> bernanke is the most aggressive fed governor we will ever know in the last 40 or 50 years with the monetary stimulation that began in november 2008. >> well her, needed to be? >> and that's likely to still be the o
CNN
Dec 27, 2012 8:00pm PST
. that was for a group called the can kicks back. it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> alan sem son impson is one o great public servants who will say or do whatever it takes to get people's attention on issues that really matter. skip and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight violence against women. >> make the cut. >> senator franken. >> >> who picked the list? >> we all did it "outfront." >>> up next, a rust belt bright spot in 2013. we're going to take you there, next. [ male announcer ] rocky had no idea why dawn was gone for so long... ...but he'd wait for her forever, for
PBS
Dec 28, 2012 5:30pm PST
insurance is still available for 2 million people, and at layshe groundwork en for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the ngshoremen's union agreed todayo extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get a bu
CBS
Dec 28, 2012 6:00pm EST
insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get
CBS
Dec 29, 2012 6:00pm PST
on deficit reduction. if they can agree by monday at midnight, the following cut take effects. over the next nine years, the u.s. defense budget would be reduced by $455 billion. domestic programs would be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport security are nothing new. but if the u.s. government goes over the fiscal cliff, they could get even longer. according to one congressional analysis, the transportation security administration would lose more than $640 million in funding, roughly 7% of out budget. t.s.a. with would also lose over 7,000 security officers. safety would not be compromised. the passenger misery would increase. >> it could be a severe impact on the traveling public. instead of maybe one hour, you may be there two or three hours before. >> reporter: long lines would be the least of the problems. under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic
CNBC
Dec 27, 2012 9:00am EST
kind of deficit the losers are facial as we go into the new year. "squawk on the street" is back in a minute. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more at isitlowt.com. [ laug hey! [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ]
FOX Business
Dec 26, 2012 1:00pm EST
it because it's required for congress to authorize borrowing money to pay our debt and deficit obligations. it's, the way i look at it, it is a mere constitutional technicality and we should raise it. i would like to make one point about on the downgrade issue that he just talked about. if we go over the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you. there is a line of thinking if we do suffer a second credit downgrade that it could actually have more of ramification than just one downgrade because you do have a handful of credit agencies, right? if you're creditor of the united states and looking at the credit rating and now you have not just one but two, so you have a majority of more negative credit ratings versus pristine credit rating across
CSPAN
Dec 31, 2012 3:30pm EST
that's driving this -- it's not a part of the spending budget that's driving the deficit and debt much that's being driven by the growth in entitlements, which are becoming particularly for a good reason, which is that the american people are living longer, therefore taking much more money out of programs like medicare than they put in, and i suppose for reasons that are not so good, which is the cost of health care continues to go up. so we proved ourselves incapable of dealing with this crisis as part of the normal process of compromise, and so we created this cliff which was intentionally made so harmful that our assumption was that we would not allow ourselves to go over the cliff. because it would be so hurtful. and, again, that's why i say no deal, in this case, is not better than a bad deal. no deal is the worst deal because it means we go over the cliff. why isual thi is all this happe? for a lot of reasons. but one is that there are groups within both great political parties who are defending the status quo, who don't want the situation as it exists now, which has created this
LINKTV
Dec 31, 2012 8:00am PST
plan that favors the rich. >> is a trojan horse disguised as deficit reduction plans. it is really an attempt to impose a radical vision on our country. it is thinly veiled social darwinism. >> hundreds of people gathered in athens, greece for the funeral of the 77-year old retired pharmacist who shot and killed himself near the greek parliament building last week after writing a note that blamed his suicide on the economic crisis. his daughter spoke at his funeral and said his act had been deeply political. >> you found it unacceptable that they were killing our freedoms and democracy and dignity. you found it unacceptable as they heartened -- tightened the hard news of the apartheid around us. the acceptable act of surrender our independence and keys to the country. it was unacceptable to you that greece did not acknowledge its children, and the children did not recognize its own country. you found the bestiality of capitalism unacceptable, that it infiltrated our lives, and know and try to stop it, and then you made your decision, to become the fear, the death, the memory, the s
MSNBC
Dec 27, 2012 3:00am PST
, who are providing us also with the means to float the deficit. these are the people providing a lot of our financing. well, at some point if this goes on long enough, they begin to think, hold it. >> who's writing a lot of our financing? >> mainly foreign governments as well as markets. holding on to treasuries and the rest. so the question, then, at some point do they go, hold it. if these guys aren't serious, why am i depending upon them so much? and the scariest single scenario is ultimately people start saying before i continue to float the united states, i want to get a slightly higher return to take -- in order to -- because of this risk. because of this uncertainty. that is the day the spiral begins because that's the day mr. bernanke and his colleagues have to think about raising rates in order to attract the necessary financing. we don't want to get there. and what's so scary about this twofer of the cliff and the debt ceiling over the next two months, basically till the end of february, is for the rest of the world looking at us, we essentially have -- it's not so much nex
CNBC
Dec 26, 2012 3:00pm EST
solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand bargain won't create a slow economy. i think it will restore confidence and we'll all invest. we'll know what the rules are and the game plan is. weied be ready to move ahead. we have opportunities to grow all the way around the world. we need to know where to put our capital investment. if we know what the rules are, we'll invest. 60% to 65% of our costs are people and we put people back to work every day. >> you don't expect a grand bargain? >> no. >> meaning? >> a short-term fix and perhaps a recession. they talk about this bungee approach and i don't think that's helpful. let's take it away from american businesses and take it away fr
CNBC
Dec 27, 2012 7:00pm EST
for the poor increases military spending? so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the plans at all, joy. and they campaign on three to one spending on we haven't seen anything like that come out of the senate. and they will not do anything to come out of the senate. >> john boehner can't get his own caulk us to take a vote on his idea to only raise the tax rates. he can't even get his own caucus to do that and he's been humiliated over and over by his own caulk us and he can solve it tomorrow. >> joy ann, harry reid hasn't passed a budget in years. >> he's passed a solution to this crisis. we're talking about the fiscal cliff. >> it hasn't got
CNN
Dec 27, 2012 4:00pm PST
social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight wviolence against women. >> make the cut. >> who picked the list? >> we all did it. >> up next, a rust belt bright spot in 2013. we're going to take you there, next. and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ mal
CNN
Dec 27, 2012 11:00pm PST
and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight violence against women. >> make the cut. >> who picked the list? >> we all did it "outfront." >>> up next, a rust belt bright spot in 2013. we're going to take you there, next. last chance to get the best deals of the year on america's freshest lineup. hurry in for the great mileage. hurry in the latest technology. the clock is ticking. so hurry to the final 100 hours of ford's year end celebration. before everything's gone. and one more thing...hurry. get a focus with 2000 cash plus 500 year end bonus cash with no charge sync and sound during the final hundred hours of the ford year end celebration. only at your local ford dealer. >>> well, washington's division and dysfunction threatened our economic recovery, some american cities are working their way back a
CSPAN
Dec 27, 2012 5:00pm EST
of extremists in terms of our debt and deficit, that we're going to all of a sudden change that? and why are we changing that? especially since most of this money isn't going to be spent, isn't even going to be initialized for at least two years. i'd ask unanimous consent that that amendment be set aside and amendment 3370 be called up. the presiding officer: without objection. the clerk will report. the clerk: the senator from oklahoma, mr. coburn, for himself and mr. mccain, proposes an amendment numbered 3370, as modified. mr. coburn: i'd ask unanimous consent the amendment be considered as read. the presiding officer: without objection. mr. coburn: and per the request of senator schumer, i put a division in this amendment so we would have two votes on it separating out the fisheries because he thought that was important. i was glad to accommodate his needs. the main -- mr. schumer: will the gentleman yield? mr. coburn: i would be happy to. mr. schumer: i just want to thank him, he was gracious. there are two separate issues here, one of them i think most of us on this side would accept. the
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